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Know and Manage the Peter Principle
The Peter Principle definition The Peter Principle is a management concept which observes that, in a hierarchical organization, employees tend to be promoted from position to position based on their success in their previous role, until they reach a position at which they are no longer competent. At that point, they typically stop being promoted
Business Quotes by Jim Collins
“A company should limit its growth based on its ability to attract enough of the right people.” “A culture of discipline is not a principle of business, it is a principle of greatness.” “All companies have a culture, some companies have discipline, but few companies have a culture of discipline. When you have disciplined people,
What is Occam’s Razor
Is it Ockham or Occam? In philosophy, a razor is a principle that allows one to eliminate, or shave away, unlikely explanations to a logical problem, thus avoiding unnecessary actions. Occam’s razor, also spelled Ockham’s razor or Ocham’s razor, is a problem-solving principle according to which, when presented with competing theories as possible solutions to
Business Quotes by W. Edwards Deming
“A good question for anybody in business to ask is what business are we in? To do well what we are doing – i.e., to turn out a good product, or good service, whatever it be? Yes, of course, but this is not enough. We must keep asking: What product or service would help our
Applying the Broken Window Theory in Business
The origin In 1982, James Q. Wilson, an American political scientist and professor at UCLA and Harvard University, and George Kelling, an American criminologist and professor at Rutgers University, published a research article in the Atlantic titled Broken Windows – The Police and Neighborhood Safety. In it, they reported their observations that disorder and crime